EU Court upholds sanctions on Russian banks & energy companies

CJEU1The EU General Court has dismissed actions to annul the EU’s sanctions that relate to Russian banks and energy companies: DenizBank, Sberbank, VTB Bank, Vnesheconombank, PSC Prominvestbank, Rosneft, and Gazprom Neft. The Court held (in brief summary) that:

a.      These measures (even though they are not the asset freeze provisions) are targeted sanctions to which the due process requirements (reasons etc) apply.

b.      Those duties had been sufficiently complied with.

c.       The measures were not incompatible with the EU-Russia Partnership Agreement or other trade agreements because they were justified by the EU’s security interests.

d.      The measures were not an unjustified or disproportionate restriction on fundamental rights even though the operators they targeted had nothing to do with Russia’s actions in Ukraine.

This entry was posted in European Court Cases, Russia by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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